Media of information disclosure and reporting on securities market in Vietnam

What are the regulations on the media of information disclosure and reporting on securities market in Vietnam? - Thanh Tung (Can Tho, Vietnam)

Phương tiện báo cáo, công bố thông tin trên thị trường chứng khoán

Media of information disclosure and reporting on securities market in Vietnam (Internet image)

1. Media of information disclosure and reporting on securities market in Vietnam

Media of information disclosure and reporting in Vietnam according to Article 7 of Circular 96/2020/TT-BTC are as follows:

* The media of information disclosure and reporting includes:

- The website of the disclosing entity;

- The media of SSC;

- The website and other information disclosure media of SE according to its regulations;

- Website of VSDCC;

- Other means of mass media as prescribed by law (printed newspapers, online newspapers, etc.).

* The disclosing organization is required to establish a website as follows:

- A pubic company must establish a website when it follows procedures for registration of public company with SSC. An issuer that makes initial public offering of shares or an organization that makes public offering of bonds must establish a website before the offering.

A securities company, securities investment fund management company or branch of foreign securities company or foreign fund management company in Vietnam must establish a website before its official operation.

An organization that has corporate bonds listed, organization that has shares listed, or registered organization must establish a website when following procedures for registration of listing or trading on SE;

- The organization that establishes a website must report the website establishment to SSC and SE, and publish address of the established website and any changes thereof within 03 working days from the completion of the website establishment or occurrence of such changes;

- The website must contain business lines and information to be published on the National Business Registration Portal in accordance with the Law on enterprises and any changes thereof;

Have a separate page for relationship with shareholders (investors), on which the company’s charter, information disclosure regulations, company administration regulations (if any), operation regulations of the Board of Directors, Board of Controllers (if any), prospectus (if any), information disclosed on periodic or ad hoc basis and on request, and other activities must be published in accordance with Circular 96/2020/TT-BTC;

- The website must display the information publishing time and ensure that investors may search and access data on the website.

* Public companies, organizations that make public offering of corporate bonds, issuers that make initial public offering of shares, securities companies, securities investment fund management companies, and branches of foreign securities companies and foreign fund management companies in Vietnam shall disclose information and make reports on the media prescribed in Point a and Point b Clause 1 of Article 7 of Circular 96/2020/TT-BTC.

* Organizations that have shares listed, organizations that have corporate bonds listed, registered organizations, affiliated securities companies, listed public funds and public securities investment companies shall disclose information and make reports on the media prescribed in Point a, b and c Clause 1 of Article 7 of Circular 96/2020/TT-BTC.

* SE shall disclose information on the media prescribed in Point c Clause 1 of Article 7 of Circular 96/2020/TT-BTC.

* VSDCC shall disclose information on the media prescribed in Point d Clause 1 of Article 7 of Circular 96/2020/TT-BTC.

* If the obligation to disclose information falls on days off or public holidays as prescribed by law, the entities mentioned in Clause 3 and Clause 4 of Article 7 of Circular 96/2020/TT-BTC shall disclose information on the media prescribed in Point a Clause 1 of Article 7 of Circular 96/2020/TT-BTCand fulfill the obligation to disclose information as prescribed by law on the day following the day off or public holiday.

* If the obligation to disclose information falls on days off or public holidays as prescribed by law, the entities other than those mentioned in Clause 7 of Article 7 of Circular 96/2020/TT-BTC shall fulfill the obligation to disclose information as prescribed by law on the day following the day off or public holiday.

* Methods of reporting and information disclosure on the information disclosure system of SSC and the media of SE shall comply with guidelines given by SSC and SE.

* Disclosing entities are not required to send hard copies of information for reporting SSC and SE in case documents have been disclosed on all of the media prescribed in Clause 3 and Clause 4 of Article 7 of Circular 96/2020/TT-BTC and comply with regulations of the Law on electronic documents.

2. Suspension of information disclosure on securities market in Vietnam

Suspension of information disclosure on securities market in Vietnam according to Article 8 of Circular 96/2020/TT-BTC as follows:

-Disclosing entities may suspend the information disclosure in case of force majeure such as disasters, conflagration, war, epidemics and other force majeure events.

The disclosing entity must submit a report to SSC and SE on suspension of information disclosure immediately when the event occurs (in which reasons for suspension of information disclosure must be specified) and publish the suspension of information disclosure.

- Immediately after the force majeure event ends, the disclosing entity shall disclose adequate information that has been not yet disclosed due to such force majeure event.

Quoc Dat

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